Accumulate Assets, Not Liabilities
Having nice things in life is a reality one should strive for, it should not be an illusion created for self-gratification.
This chapter will focus on the differences between assets and liabilities and show you how, by accumulating assets and reducing liabilities, you can increase your net worth. This scenario was demonstrated by the example in Chapter 6 (Focus on Investing, Not on Consuming) between Earner A and Earner B. The same item, acquired differently or under different circumstances, can be considered either an asset or a liability. Learn to tell the difference. Accumulating assets and reducing liabilities can also serve as a backup plan or safety net for potential financial hardships. Assets ...
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